Consultants draw regulatory scrutiny for first time

The UK's Financial Conduct Authority is prioritising wholesale banking, but buyside institutions also come in for scrutiny

Getty Images

By

Mark Cobley

February 19, 2015 Updated: 6:36 p.m. GMT

The UK's market regulator, the Financial Conduct Authority, has said it may follow up a planned wholesale review of investment banking with another focusing on fund management – and include scrutiny of investment consultants for the first time.

The FCA began looking into whether wholesale financial markets in general are competitive enough in July last year, and it has been taking views from the City over the months since. Today, it...